useful content We are all aware that property values have taken a hit in recent months. Unemployment is rising. Many homeowners are strapped with house payments that they cannot afford. This has caused a much more common occurrence… a short sale.
http://kalamazoo-real-estate.com/?troption=gcm-forex-grafikleri&ef8=cd I would like to explain the basics of a short sale. A short sale is process where someone works to negotiate mortgage terms with a lender so that the homeowner will avoid foreclosure. This is called loss mitigation. When a homeowner needs to sell a home and the amount owed on the mortgage is greater than the value of the property, you have a short sale situation.
http://www.katalogiroslin.pl/?simsonu=opcje-binarne-akademia-wagnera&ac9=69 A foreclosure is the process of the bank taking back ownership of a house due to the homeowner’s inability to pay their mortgage. A short sale, on the other hand, is sold by the homeowner before a foreclosure takes place. Ultimately, in a short sale, the lender agrees to accept less payment for the home than what is actually owed to them. The listing price for the home is determined by the market analysis or price opinion done by the REALTOR, by the amount that is owed, by the condition of the house and by the current market conditions.
resource By definition, any homeowner that is two months late on their mortgage payment and can also demonstrate the inability to pay their mortgage would be considered a short sale candidate. The homeowner is considered pre-foreclosure when the bank officially sends a notice of default or a notice that they’re taking legal action against the homeowner to collect the debt. A short sale can still be negotiated even during the foreclosure process.
here There are basically two reasons that a homeowner is not eligible for a short sale: 1) The foreclosure has already taken place and the home is up for auction. 2) The homeowner files for bankruptcy. A short sale can help make the best of a difficult situation. The bank or mortgage lender is willing to proceed because they are able to recapture as much of this non-performing loan as possible. The seller is helped because they’re going to be forgiven for a large portion of the money they owe and their credit will not be as severely affected as with a foreclosure. The buyer of the home benefits because they can obtain a property at a lower price.
go to website Though the mortgage industry and the ramifications of credit issues are changing (almost on a daily basis), we have been told by some folks that a short sale is a better option than a foreclosure is because it saves the seller’s credit from being damaged as severely. It has been reported that a foreclosure can drop a homeowner’s credit score by 300 points or more. A short sale is said to affect a homeowner’s credit score by 80 to 100 points on the average. We have been told that a short sale reads on your credit report as a paid lien or paid judgment, and is easier and quicker to repair than a bankruptcy or foreclosure. We are currently checking for further verification of this information, but, as it is constantly in a state of flux at this time, you should contact us so we can connect you with the latest information we have.
http://blog.pinkprincess.com/?svecha=forex-forum-opzioni-binarie&f74=49 What should you do if you are facing this struggle? like this Call the Veenstra Team today at 269-350-5514. We will do a market analysis of your home and help you determine your options. When you are in this situation, waiting is NOT a positive step. You can reach the Veenstra Team at 269-350-5514 or email us email@example.com.
Thanks for reading!
Your Kalamazoo Real Estate Senior Citizen Team
Jason Veenstra, Kalamazoo REALTOR
David Veenstra, Kalamazoo REALTOR
Phone: (269) 350-5514. Sold@VeenstraTeam.com.
Providing Real Estate Solutions for Kalamazoo Senior Citizens
View Our homes for sale at www.VeenstraTeam.com.
The Veenstra Team specializes in helping senior citizens (and their children or caregivers) handle housing decisions with wisdom.
Contact the Veenstra Team to learn about greater Kalamazoo real estate options for Senior Citizens, including Portage real estate, Mattawan real estate, Oshtemo real estate, and real estate in any of the communities surrounding Kalamazoo.
Of course, the Veenstra Team also serves all non-Senior home buyers in the greater Kalamazoo area and all non-Senior home sellers in the greater Kalamazoo area. We can help people purchase or sell any Kalamazoo homes, Kalamazoo income property, Kalamazoo Lake Homes, Kalamazoo Executive Homes, Kalamazoo resort homes and even Kalamazoo short sales which can help distressed homeowners in Kalamazoo avoid Michigan foreclosure. We offer specialized services for Kalamazoo senior citizens and children with aging parents seeking Kalamazoo real estate information. We also offer free Kalamazoo relocation packets, Kalamazoo tours and specialized services for people who are moving to Kalamazoo. For families moving anywhere else in the US or Canada, we offer Free Nationwide Relocation Services and free REALTOR referral.
I would like FREE help from the Veenstra Team to buy a home!
I would like a free evaluation from the Veenstra Team so that I know how much my home is worth!
Fill Out the Form Below to Contact The Veenstra Team
David Veenstra, REALTOR
Jason Veenstra, REALTOR
The Veenstra Team with Evenboer Walton REALTORS
(269) 350-5514 (office)
(773) 751-2206 (fax)
The Veenstra Team offers free, top tier real estate tools and technology for Kalamazoo home buyers and an 81 point home marketing plan for home sellers that gets Greater Kalamazoo home sold!
We provide free, effective short sale solutions which avoid foreclosure in many SW MI cities. We work with a network of investors that bring cash offers.
We also offer Kalamazoo commercial real estate services and advice through our partner, Jeremy Veenstra of NAI Wisinski of West Michigan
We also offer free nationwide relocation and REALTOR referrals through our EXODUS Network of Christian Community Specialists.
We provide Corporate Relocation Assistance in Kalamazoo and Portage MI through our partnership with the Great Lakes Relocation Center. Great Lakes Relocation Center is a member of the "National Employee Relocation Council” and “Relocation Directors Council”. Great Lakes Relocation Center has attained “Preferred Broker” status with the nation's four largest relocation companies. Company VP, Connie Schlaak, has also obtained the designation GMS (Global Mobility Specialist)
We offer a free Chicagoan's Guide and Home Buyer Tools to buying a Lake Home in MI
This article and content is for general informational purposes and should be independently checked for accuracy. Information should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.